Correct. The motherboard has some deficiencies but the chips do not. Those are being worked on. The chips will run as fast (and as hot) as you let them. Help me convince Ravi it would be beneficial to sell updated motherboards when they come out. Hint hint hint.
you've got my attention there, so does this mean a LGA socket ? in other word a chip that you can put in/out like processor ? motherboard can be replaced ? this is really huge and important if it is true. but how didn't I see that on their design (if it is true)  |
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Suppose that the price of a BTC fell to 100 USD while its transaction volume kept increasing. Would mining still be profitable?
it depends how you look at this situation, basically if we look at the USD value and the cost of the hardware and energy, internet, cooling... small miners are barely making any profit at today's prices, now if you look to profit in terms of BTC then small miners are not making any profits at all and this is due to the fast difficulty rises since April... So most of miners will have to hold their bitcoins and wait for a higher price to break even in USD, and most of miners that were aiming for BTC profits has realized that the BTC ROI is getting harder and harder to achieve but this will settle down when the ASIC era is over, it was the same case when mining switched from CPU to GPU... tell me more... what do you want to know ?  about the end of the ASIC era if you want me to tell you to not worry it will come to and end then no but I can tell you that once the ASIC prototypes are available in a large scale and once the network diff. growth will surpass the price growth which is happening now the ASIC era will slow down... |
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Suppose that the price of a BTC fell to 100 USD while its transaction volume kept increasing. Would mining still be profitable?
it depends how you look at this situation, basically if we look at the USD value and the cost of the hardware and energy, internet, cooling... small miners are barely making any profit at today's prices, now if you look to profit in terms of BTC then small miners are not making any profits at all and this is due to the fast difficulty rises since April... So most of miners will have to hold their bitcoins and wait for a higher price to break even in USD, and most of miners that were aiming for BTC profits has realized that the BTC ROI is getting harder and harder to achieve but this will settle down when the ASIC era is over, it was the same case when mining switched from CPU to GPU... tell me more... what do you want to know ? |
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Suppose that the price of a BTC fell to 100 USD while its transaction volume kept increasing. Would mining still be profitable?
it depends how you look at this situation, basically if we look at the USD value and the cost of the hardware and energy, internet, cooling... small miners are barely making any profit at today's prices, now if you look to profit in terms of BTC then small miners are not making any profits at all and this is due to the fast difficulty rises since April... So most of miners will have to hold their bitcoins and wait for a higher price to break even in USD, and most of miners that were aiming for BTC profits has realized that the BTC ROI is getting harder and harder to achieve but this will settle down when the ASIC era is over, it was the same case when mining switched from CPU to GPU... |
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IT Guy? Haha. If you want to call a developer writing code 25 years now. Ok. Most dont consider me IT.
Yes IT guy, I should say engineer instead of "guy" but yes you can be a developer or a system administrator or an IT architect or help desk technician.... this is all under the Information Technology specialty and department, and what the fact of developing software for 25 years can change in your case here ? I've been in IT operations for more than 10 years as well, does this change anything ? no.... people are not getting their miners and you've got with a hand shake and the funny thing is that I remember you from bloomberg, a real funny coincidence.... |
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Guys, I can confirm Cointerra is shipping. I just received my TerraMiner today. After a bumpy start with the web interface (mostly my fault) I got it all up, online, and mining. I just setup a fresh new wallet and mining via the eligius pool so people can watch the actual TerraMiner progress. Who I am is public knowledge so I have no issues with people seeing the activity of my new wallets. http://eligius.st/~wizkid057/newstats/userstats.php/12swrBqyvmN6w6tjmww2RavPsvA3AB1LmeDisclaimer: I am a long long time developer so I will be taking the machine down and up while I develop some algo-mining strategies/software. Also I am sure I will want to break it a few times. In short, if you see a drop in mining it is likely me not the Cointerra system. Here are some photo's of myself and Ravi (CEO of Cointerra), Cointerra sitting on my window, and the cgminer screen. Mr Anderson I recognize this guy, he works at Bloomberg hahahahahahah, a coincidence ? he was on the 12 day Bitcoin coverage demonstrating mining on a BFL SC60.. Edit: I found the video, and yes it is that guy, the IT associate at bloomberg  http://www.bloomberg.com/video/12-days-of-bitcoin-how-do-you-mine-for-bitcoin-8oMB0j~XSDCw7qtz4i~PiA.html |
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can you please stop with your racism ?
Can you please stop quoting him? sorry, I realized the mistake that I did just later and I edited the quote |
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Ok let's speculate. How low could we go on a Gox collapse?
Referencing Oda's earlier point about the SR bust...let's remember that before it happened the sage PoV was that it would massively impact the market. The reality, after it happened, was the price was back on track in under a week. The market(s) may actually respond positively to la vie sans Gox. Complete agreement with your last line. Medium /long term it would likely be bullish, but it might throw us into a short period of selling frenzy, if it happens.
something something, racism, I am a pathetic person this is why I attack races and religions, something something, I just proved I am a total idiot...can you please stop with your racism ? |
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looks like week end rallye is over... we going down down down now. the question is.. will we break last ATL at around 725 on stamp last week?? ^^
What rally? the first member joined September the second joined November, so the price has to crash for them to feel good so they have the chance to buy in lower, the same when I knew about bitcoin when it was around 10 and I wished if the price crash to 1 so I can buy more.... when the price will be 10K the newer members will start wishing for 1000 and every drop will be a crash and every small rise will be a rally.... as simple as that |
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Holy cow gox under 1000 volume.
Unfortunately Gox is dying slowly, First the drama in April with their trading engine lag, then the Fiat withdrawal problems and now the BTC withdrawal problems. Gox has been the leader, a year and half ago they held more than 80% of the trading volume, now they lost more than 80% of their volume and I am afraid that they will have to fix all their problems ASAP or they will have 0 volume and then they will have just to shutdown. but to be honest, if it weren't to Gox, Bitcoin wouldn't be at what it is at today. Yesterday's volume at Gox of 1458 btc was the lowest since they started in 2010 (except the week they were closed in 2011). (1) gox has been declared dead before, and it always came back so far, like a fucking zombie, so with that in mind I'll express point (2) below with a caveat (2) for the first time it looks to me like gox might *actually*, *really* go down in flames this time. not today, not tomorrow, but drastically lower volume plus mounting withdrawal problems mean that 2014 might (IMO) see gox go bust. (3) which, despite what people like to tell themselves about "it already being priced in", would be ugly for price. Think "fbi silk road seizure" ugly, at least short term. (4) But: It will be *so* worth it did anybody say cheap coins???  I want to learn how to determine the Price of Bitcoin being cheap or expensive, it is confusing to me, I thought demand and supply and the order book depth and the gap between bids and asks determine it but I always learn new stuff, in other words $500 is cheap only when the price on exchanges is 800 and you get an offer for 500 |
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Hey be patient friends  i am in the same boat. just endure another 2 weeks or so. At least not in another 2 month waiting like BFL. Apparently weīre not in the same boat; I have ordered the very first Avalon Clones - then upgraded to Coincraft Rigs - at a time where BTC traded below 100$. I canīt accept the in-transparent way of communication from bitmine anymore - we are nearing a 3 months delay due to a official 3 week shipping delay of a sub-contractor?!? Yeah right - thatīs so credible. I am going to be patient and put my rose-tinted glasses on and see what happens. NOT Itīs not that hard to (officially) prove where the time during production was lost - and I will not hesitate to initiate a lawsuit to find that out. Where does the 3 months delay come from? It has always been clearly stated on the product page that shipping would start from the 16th of December, as such as of today we are just 7 weeks late, a little bit less than 2 months and, again, we are going to pay that delay to our customers with our customer protection plan by adding free hashing power. Well IF you start shipping Rigs in week 8 - it comes very close to 3 months. You were always stating that delivery(!! not production) started at 3rd of december - and 95% will be done by 17th of december. How about you check your own blog - http://bitmine.ch/?p=1920".. shipping queue will continue to be filled till we reach the limits of our production capacity, although 95% of all deliveries will commence between December 3rd and December 17th" Also I am not complaining about the high BTC rate - I am only complaining about not getting informed by whatīs really going on with my orders. This blog post is being taken into account so often, so it's better to clarify it once for all: that post was based on our best predictions at that time but was in no way binding like the purchase agreement is when you place the order and agree to the stated terms. At that time, we were thinking that we could have anticipated production in respect of what was the official terms, but unfortunately it turned out we couldn't. This fact does not automagically change the legally binding shipping terms to the predicted one, that one will always stay "starting from the 16th of December" as it was very clearly written in the product description page. ok so when will you start shipping anything ? desk or rig or whatever, did you ship anything today ? did you reach your performance expectations ? can you post a video and show how things are going? I had faith in you guys but you are stating to lose me here, a company with long term vision should think about a returning customer that can leave a positive feedback for new customers in order to maintain their business model, please don't try to be a second BFL... |
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Cryptx, can I ask what kind of hardware did you order from Bitmine ? is it the Rig or the Desk ? because they said the Rig will be delayed even more ! The rig is a more advanced design that requires longer production time than the desk which is a very simple unit, production goes in parallel but rigs come some days later out of the production.
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I called bitmine support:
Support said that CoinCraft Rigs will be shipped starting in week 8 (starting with February 17th)!
Thatīs another two weeks later than the supposed shipping start (today?!) of CoinCraft Desks.
The exact reason for this delay could not be given and this is the point where I am really getting upset, because it was said that afterwards a parallel manufacturing is of course possible.
Support did intentionally not tell me the real reason for the delay apparently - even though I asked several times and he began stumbling.
If they give me a reasonable explanation I could maybe deal with it.
The whole order-number discussion is hereby obsolete! (except if you have only ordered Desks of course).
This is another big fu*k-up by bitmine in my books and I will propose legal action if they cannot give a valid reason for the delay of Rigs.
The rig is a more advanced design that requires longer production time than the desk which is a very simple unit, production goes in parallel but rigs come some days later out of the production. did Cryptx order desks or rigs ? I am really curious, we are already 1 month late ... |
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I can also confirm the bad weather, half of my coworkers didn't make it to the work today but I am lucky that my electricity and internet is not effected.
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Did anyone saw this article http://www.theregister.co.uk/2014/02/03/cointerra_ships_bitcoin_miners/they suggest that December Batch1 customer now all got their rigs !!!?All customers who ordered for the December deadline, now known as batch 1, have now got their kit, with the original January (batch 2) customers receiving their gear over the next couple of weeks. Customers who ordered boxes for February and beyond should get the miners on time. and a free Miner for 1st Batch customers in Batch 4 ??!!! Those customers who received batch one kit will get a second, batch four box free. This vast amount of extra processing released into the wild will have a disruptive effect on the Bitcoin market where did they get that Info from ? |
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Cryptx any update from both Cointerra and Bitmine ?
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but to be honest, if it weren't to Gox, Bitcoin wouldn't be at what it is at today.
If there were no Gox, we would have Box, Cox, Fox, whatever to make bitcoin to be at what it is at today But we didn't and you could have Box, Cox or Fox even when Gox existed but you didn't and this is what I meant |
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Holy cow gox under 1000 volume.
Unfortunately Gox is dying slowly, First the drama in April with their trading engine lag, then the Fiat withdrawal problems and now the BTC withdrawal problems. Gox has been the leader, a year and half ago they held more than 80% of the trading volume, now they lost more than 80% of their volume and I am afraid that they will have to fix all their problems ASAP or they will have 0 volume and then they will have just to shutdown. but to be honest, if it weren't to Gox, Bitcoin wouldn't be at what it is at today. |
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so they got "Hacked", this is really BS, they are trying to buy more time, they stated they started production 10 days ago and they "delivered" the first miner a week ago and yet no one seems to receive a tracking number or any information about shipping.
I really wish for regulation to hit Bitcoin really hard just because of these kind of abuses...
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US companies seems to suck...bitmine is about to ship there goes all our profit making  When I first started mining back in late 2009 with my Xilinx LX240's, I would have been lucky to trade 10K Bitcoins for a slice of pizza I'm 100% sure you were not mining with Xilinx in late 2009 Sorry mate, anyone from my graduating class can implement SHA-2 algorithms on an FPGA; it is not exactly what I would call challenging. My background is in Electrical/Electronics Engineering and Computer Science, but my top hobbies include research in Number Theory and Cryptography.  Name: Supercomputing Posts: 83 Activity: 83 Position: Member Date Registered: 21 September 2013, 09:47:51 Last Active: Today at 07:18:50 registered 21 September 2013 and claim to mine Bitcoin with FPGA late 2009, what members in this forum has became..... it just amaze me Congratulations Sherlock Holmes, you've got it all figured out. Now, only if you can figure out Satoshi Nakamoto's true identity, then I will be impressed. so next you will claim that you are Satoshi ? I wouldn't be surprised, now move on we saw your kind before.... You give up so soon, I am very disappointment. Perhaps, you can look-up Satoshi Nakamoto's registration information on bitcointalk.org and figure out when he started to mine Bitcoins. yes you are.. |
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